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Month-end Accounting Tasks
Month-end Accounting Tasks
Updated over a week ago

Below is a list of month-end accounting tasks you should complete PRIOR to issuing owner statements and financial reports (linked SOPs forthcoming for each step below)

  1. Reconcile Cash (Trust, Operating, etc.)

  2. Reconcile CC Accts

  3. Reconcile Revenue in QBO back to your Property Management System

    1. Review transactions without a class or location (Location method only) assigned

    2. Review Cancellations and Resolutions - make any needed adjustments for $ amounts retained or refunded

  4. Review Accounts Receivable detail and reconcile

  5. Reconcile your clearing accounts (airbnb, stripe, booking.com, etc.)

  6. Book Management Commissions using $0 bill template

    1. NOTE - if using Management Commission Automation, perform high level review to make sure total monthly commissions are correct

  7. Book any monthly fees or charges

  8. Prepare and review owner statements

  9. Reconcile VRPlatform Owner Statement totals (Payouts) to QBO

  10. Issue statements and pay owners

  11. Perform month-end accounting journal for Operating/Trust liability

  12. Close your books in QBO as of month-end

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